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BROWN v. BULLOCK

17 A.D.2d 424 (1962)

Ethel Brown et al., Appellants, v. Hugh Bullock et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

December 20, 1962.

Attorney(s) appearing for the Case

Mark H. Berger of counsel (Berger & Berger, attorneys), for Max Goldmann, appellant.

Abraham L. Pomerantz of counsel (Pomerantz Levy & Haudek and Rosenfeld & Silverman with him on the brief; Rosenthal & Gurkin, attorneys), for Ethel Brown and another, appellants.

David W. Peck of counsel (Alfred Jaretzki, Jr., Marvin Schwartz and E. Roger Frisch with him on the brief; Sullivan & Cromwell, attorneys), for Hugh Bullock and others, respondents.

Harold L. Smith of counsel (Francis C. Reed and Robert M. Byrn with him on the brief; Hughes, Hubbard, Blair & Reed, attorneys), for Arthur F. Burns and others, respondents.

Harold M. Cole of counsel (Myron J. Wiess and James G. Starkey with him on the brief; Cole, Friedman & Deitz, attorneys), for Dividend Shares, Inc., respondent.

EAGER, STEUER and BERGAN, JJ., concur in Per Curiam opinion; STEVENS, J., dissents in opinion in which BREITEL, J. P., concurs.

Per Curiam.

This stockholders' derivative suit on behalf of defendant Dividend Shares, Inc., seeking the recovery of fees paid to defendant Calvin Bullock, Ltd., as investment adviser, was instituted in the New York Supreme Court August 9, 1960. The previous day a suit against the same defendants on the same ground and for identical relief had been instituted in the United States District Court for the Southern District...

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